BARCELONA: Neymar has agreed a contract extension with Barcelona which will keep him at the Spanish champions until 2021 and disappoint French giants Paris Saint-Germain.

The new deal will fixed his buy-out clause at £181m for the first year of his new contract, £200m for the second year and £226m for the remaining three years of his deal.

Barca signed the Brazil forward from Santos in 2013 and, with them, he has won the Champions League, European Super Cup, Spanish Super Cup as well as the domestic league and cup twice each.

The formal signing is expected to take place on Friday at Camp Nou after four months of talks between the club and the player’s family and advisers.

Initially, the signing had been set for July 15 when Neymar was on holiday ahead of the Rio 2016 Olympics. However he asked for a postponement so as not to interrupt his focus ahead of the Games.

It is believed that Neymar’s new deal will place him just behind only Lionel Messi in terms of wages.